Dr Martens awaits private equity tie-up
Private equity firms have put their best foot forward and submitted first-round bids of up to £120m for Dr Martens, the British footwear brand made famous by skinheads but now favoured by a trendier crowd.
The owner of Dr Martens hired advisers at the investment bank Rothschild earlier this year and first-round bids were due last week. Private equity firm, Electra Partners, is thought to be among the suitors but others are known to be looking at the company which is run by Max Griggs whose father acquired the brand in 1960 from its German owners.
While the company hit tough times and moved its production to the Far East in 2003, Dr Martens has kicked on in recent years and now generates a large proportion of its sales overseas in more than 60 countries from the US to Japan.
A source said a key attraction for a potential buyer would be ramping up its sales in Asia and North America. Dr Martens, which returned some manufacturing to the UK in 2007, now sells boots, shoes and clothing.
- 1 What happens to your body when you give up sugar?
- 2 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 3 Have sex with your iPad thanks to the new sex toy no-one asked for
- 4 African jawbone discovery pushes birth of humanity back by 400,000 years
- 5 The 'sex selfie stick' lets you FaceTime the inside of a vagina
Out-of-touch MPs ‘don’t get it’, says ex-Civil Service chief
George Clooney and Amal fail to get special treatment at New York restaurant
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
African jawbone discovery pushes birth of humanity back by 400,000 years
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...